Pennsylvania Casino Revenue Up 1.3% To $214.1 Million In April

Pennsylvania Casino Revenue Up 1.3% To $214.1 Million In AprilThe Pennsylvania Gaming Control Board  has released its casino figures for the month of April, revealing a 1.3% increase in revenue to $214.1 million compared to the same month last year.
However, the Northeastern state’s gambling figures were given a boost largely thanks to the Valley Forge Casino Resort opening on March 31st, without which slots revenue would have been down 0.6% year-over-year. That would have represented only the third time Pennsylvania slots revenue would have declined since the state’s first casino opened in 2006. Shaking off the worrying signs, though, gaming board spokesman Richard McGarvey, commented:
“One month never makes a trend. Revenue goes up, goes down.”
The state has 11 casinos in total and recording the biggest gain was Pennsylvania’s second-newest casino, Sugarhouse Casino, which was up 7.5% to $15,633,592. Next highest was The Meadows Racetrack and Casino up 3.6% to $22,267,253, followed by Sands Casino  Resort Bethlehem up 2.55% to $24,311,295.
By contrast, several casinos recorded static or declining growth including Harrah’s Chester Casino and Racetrack down 7.6% to $22,413,993, Presque Isle Downs and Casino down 6.64% to $14,054,747, and Hollywood Casino down 5.64% to $21,146,550.
Nevertheless, Pennsylvania will not yet be too concerned over April’s lack lustre results. After all, the state still collected a healthy $116 million in tax revenue for April compared to the record $126.5 million in taxes collected the previous month. Overall, Pennsylvania’s 11 casinos have now generated  $6.5 billion in tax revenue in nearly six years of operation, while providing employment for 16,000 people in the state.
In addition, last month Pennsylvania experienced an 8.5% surge in gross revenue to $233.1 million, making it the state’s highest ever monthly revenue figure. In fact, so successful has Pennsylvania’s casino industry become that in July 2011 it overtook Atlantic City as the USA’s second largest gambling market. Feeling the pressure from its neighbour, New Jersey Senate member Jim Whelan commented recently:
“Obviously it’s not good news. We don’t like being passed, but I think it tells us we need to redouble our efforts. Some of our properties are frankly in need of renovations and in need of reinvestment. I think if we get that we will be right back where we belong.”

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